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GOULDS PUMPS DECLARES REGULAR QUARTERLY DIVIDEND

 ROCHESTER, N.Y., Feb. 12 /PRNewswire/ -- The directors of Goulds Pumps, Inc. (NASDAQ-NMS: GULD) meeting here yesterday, declared a regular quarterly dividend of 20 cents per share on the common stock outstanding.
 The dividend is payable April 15, 1993 to stockholders of record at the close of business on April 5, 1993.
 In other business, the directors, pursuant to the provisions of the stockholders rights plan, approved a resolution to redeem the rights that were issued on Dec. 27, 1988.
 Notice of the redemption will be provided to all stockholders and payment of the one cent per share redemption price will be made in cash on April 15, 1993 to stockholders or record on April 5, 1993. The redemption price will be treated as a dividend for tax purposes.
 Commenting on the board action, Robert L. Tarnow, chairman of the board and Stephen V. Ardia, president and CEO stated, "Activity in the area of mergers and acquisition has been dramatically reduced since the stockholder rights plan was adopted. The restricted availability of financing from junk bonds and banks has made coercive takeovers very difficult to consummate.
 We are also sensitive to the views of a large number of our stockholders who are generally opposed to such plans,
 This combination of events has convinced us that the redemption at this time of the rights that would have expired on Dec. 27, 1998, represents the best interests of all the stockholders."
 -0- 2/12/93
 /CONTACT: John M. Morphy, group vice president-industrial products and chief financial officer of Goulds Pumps, Inc., 315-568-2811/
 (GULD)


CO: Goulds Pumps, Inc. ST: New York IN: SU: DIV

LR-TS -- NY014 -- 6087 02/12/93 10:27 EST
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Publication:PR Newswire
Date:Feb 12, 1993
Words:280
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